KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Key Takeaways New tariffs: U.S. President Donald Trump announced an additional 10% levy on Canadian goods , escalating trade tensions. Canada’s counterplay: Prime Minister Mark Carney is leading an Asia-focused trade diversification drive , targeting new agreements with ASEAN , China , and India . Economic strategy: Ottawa aims to double exports beyond the U.S. within a decade , reducing reliance on its southern neighbour, which currently buys ~75% of Canada’s exports . Infrastructure focus: Western Canada — especially Prince Rupert Port — emerges as a key export hub for commodities and energy shipments to Asia. Carney’s Asia Mission: A Reset in Foreign Trade The timing of Carney’s first Asia tour as prime minister coincides with Trump’s renewed tariff salvo. At the ASEAN Summit in Malaysia , Carney worked to finalise a Canada–ASEAN free trade agreement , ...